Friday, October 30, 2020

Coca-Cola Israel fined $11 million for abusing monopoly position

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The Israel Competition Authority announced on Tuesday that it had fined Coca-Cola Israel 39 million new shekels (about 11 million U.S. dollars) for its abusing of monopoly position.

The authority mentioned six infringing actions by the company, which manufactures and markets U.S. beverage giant Coca-Cola’s products in Israel and is headquartered in the central city of Bnei Brak.

It was found that Coca-Cola Israel introduced a clause in trade agreements with retailers, whereby it could cancel the agreements if customers significantly reduced purchases from the company.

The company also imposed a policy that prohibited placing competing products in its retail clients’ refrigerators and has acted to exclude competing refrigerators from sales points.

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According to the competition authority, the company also conditioned a discount on Coca-Cola drinks on the purchase of other products from the company.

Finally, Coca-Cola Israel also stopped the supply to retailers which were also selling parallel-imported Coca-Cola products.

The authority noted that the company weakened the competitiveness of other companies, making it difficult for them to sell products, and hindered the possibility of price reductions, which violated Israel’s Economic Competition Law.

Source: xinhuanet

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